Christine Bleakley is facing a 70 per cent pay cut on 'Dancing on Ice'.

The TV presenter - who has hosted the ITV celebrity ice skating competition with Phillip Schofield since 2012 - will reportedly only be brought back for the new series of the show if she agrees to a lower salary after her three-year £4 million contract with ITV comes to an end this summer.

The 34-year-old beauty signed a lucrative golden handcuffs deal with the channel in 2010 when she and Adrian Chiles defected from BBC to host 'Daybreak', but the duo were dropped from the breakfast show after just one year due to plummeting ratings.

Christine is thought to have earned £40,000 an episode for the latest run of 'Dancing on Ice' - which was by Olympic gymnast Beth Tweddle - as part of her overall contract, but ITV bosses are now planning to be more frugal, offering her just £12,000 per episode for next year's run.

A source told the Daily Mirror newspaper: "Christine has been paid an awful lot for not very much in recent times. Perhaps, the pendulum will swing back in our favour."

If she doesn't accept the lower offer, however, the TV star could be axed from the programme.

Christine has seen her TV workload decrease in the last year or so, hosting 'Dancing on Ice', and one-off shows such as 'Text Santa' and 'That Dog Can Dance'.